Longleaf Partners Small-Cap Fund’s Leading Detractor: Oscar Health (OSCR)

Longleaf Partners, managed by Southeastern Asset Management, released its “Small-Cap Fund” fourth-quarter investor letter. A copy of the same can be downloaded here. The fund delivered 4.74% in the fourth quarter compared to a 6.23% return for the Russell 2000 Index, while the fund declined -19.27% in the year 2022. Multiple companies across sectors delivered strong returns and positive relative performance in the fourth quarter.  In addition, please check the fund’s top five holdings to know its best picks in 2022.

Longleaf Partners Small-Cap Fund highlighted stocks Oscar Health, Inc. (NYSE:OSCR) in the Q4 2022 investor letter. Headquartered in New York, New York, Oscar Health, Inc. (NYSE:OSCR) is a health insurance provider. On February 7, 2023, Oscar Health, Inc. (NYSE:OSCR) stock closed at $3.8500 per share. One-month return of Oscar Health, Inc. (NYSE:OSCR) was 38.49%, and its shares lost 41.13% of their value over the last 52 weeks. Oscar Health, Inc. (NYSE:OSCR) has a market capitalization of $826.807 million.

Longleaf Partners Small-Cap Fund made the following comment about Oscar Health, Inc. (NYSE:OSCR) in its Q4 2022 investor letter:

“Vimeo and Oscar Health, Inc. (NYSE:OSCR)– Digital software company Vimeo and US health insurance and software platform Oscar Health were both unduly punished this year alongside most tech-related businesses. We were too early at both companies, and our partners have not yet gone on offense to the degree we initially expected. Oscar grew too much, while Vimeo didn’t grow enough. Both still have key differentiating factors and the ability to control their own destiny, but we have been hesitant to take them back to full positions as our initial thesis has yet to play out. We are engaged with management teams at both companies to encourage proactive steps to close the value gap.”

Source: Unsplash

Oscar Health, Inc. (NYSE:OSCR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Oscar Health, Inc. (NYSE:OSCR) at the end of the third quarter, which was 16 in the previous quarter.

We discussed Oscar Health, Inc. (NYSE:OSCR) in another article and shared the list of the best young stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.